Annual Report 2016
53
REPORT OF THE DIRECTORS
21. OPTIONS TO TAKE UP UNISSUED SHARES
– continued
Each option grants the holder the right to subscribe for one Share. The options may be exercised
in full or in part thereof. The holders do not have the right to participate by virtue of the options
in any share issue of the other member corporations in the Group. Options granted are cancelled
when the holder is no longer a full-time employee of the Company or any member corporation in
the Group subject to certain exceptions at the discretion of the Company.
There were no participants to the above share option schemes, who are controlling shareholders
(as defined under the HK Listing Rules and the Main Board rules of the listing manual of Singapore
Exchange Securities Trading Limited (the “SGX-ST” and “SGX-ST Listing Manual”, respectively) of
the Company and their associates.
Other than disclosed above, there were no options granted by the Company to any person to take
up unissued shares of the Company or any member corporations in the Group during the Year.
22. OPTIONS EXERCISED
During the Year, 785,000 shares of HK$0.20 each have been issued by virtue of the exercise of an
option to take up any unissued Shares.
23. UNISSUED SHARES UNDER OPTION
At the end of the Year, there were no unissued Shares of the Company or any member corporation
in the Group under option, except for the share option schemes disclosed in paragraph 21 above.
24. PRE-EMPTIVE RIGHTS
There are no provisions for pre-emptive rights under the Bye-Laws or the laws of Bermuda, which
would oblige the Company to offer new Shares on a pro-rata basis to the existing Shareholders.
25. SUFFICIENCY OF PUBLIC FLOAT
Based on the information that is publicly available to the Company and within the knowledge of the
Directors, at least 25% of the issued Shares have been held by the public (i.e. the prescribed public
float applicable to the Company under the HK Listing Rules) during the Year and thereafter up to
the date of this report.
